India’s induction furnace (IF) steel prices edged up on 30 April, 2024, as offers announced by the mills increased in the range of INR 200-1,000/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices rose in the range of INR 250-750/t, with the sharpest rise seen in Odisha’s Jharsuguda.
Billet prices rose sharply in the range of INR 300-1,000/t. The highest uptick was observed in the Hyderabad market.
Rebar (Fe 500) offers surged in the range of INR 200-700/t. The sharpest rise was seen in the Raipur and Raigarh markets.
Moderate trading activities were observed in the spot market as prices climbed up today. Buyers turned active and booked material in apprehension of a further rise in prices. As per market participants, volatility may persist in the near term.
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BigMint’s price assessment (Region wise)
